Central Banking
Sanusi unveils revised Nigerian payments strategy
Central Bank of Nigeria governor underscores progress made already with modernising payment systems in Nigeria, and reveals details of revised payments strategy for 2020
BIS statistics show surge in emerging market claims
Latest figures for cross-border claims show rapid increase in lending to emerging markets in first quarter of 2013, though Fed taper talk has since reversed the flow
Draghi highlights win-win productivity gains in Berlin speech
While cost adjustments increase competitiveness only relatively, productivity gains, by increasing trend growth, can be absolute and benefit all countries, ECB president tells conference audience
Near-zero interest rates of limited help to non-financial firms
BIS quarterly review article finds that lesser pass-through is partly related to higher premium for risk required by financial intermediaries
Summers drops out of race for Fed chair
Larry Summers writes to Barack Obama to withdraw his name from consideration as the next chairman of the Federal Reserve, citing likely 'acrimonious' confirmation hearings
Reserve Bank of Fiji adviser targets 5% growth
Lorraine Seeto believes the Fijian economy can grow by 5% each year; highlights the need for more investment, more exports, and a low and stable inflation rate
Central Bank of Russia simplifies interest rate policy
New measures will streamline the interest rates that the central bank targets; changes brought in two days after the appointment of a new deputy governor for monetary policy
RBI sets up committee to make monetary policy ‘transparent and predictable'
Reserve Bank of India announces make-up and mandate of committee commissioned by new governor Rajan to overhaul the way the central bank conducts monetary policy
Hungary council members divided over rate drop
Central Bank of Hungary monetary council members were split over the size of last month’s rate cut; minutes from August meeting signal that easing cycle is winding down
Bank of England publishes banking primer to educate public
Article says role of prudential regulation is to ensure the soundness of banks by ensuring they have sufficient capital and liquidity to avoid disruption of critical services provided to the economy
Economists criticise ‘incomplete’ Bank of England guidance
Richard Barwell and Jagjit Chadha criticise the Bank of England for failing to lay out the path back to a more neutral monetary policy in its attempt at forward guidance
Dallas Fed highlights transformation of FOMC statements over past 20 years
Before 1994, markets were left in the dark over interest rate changes; statements have expanded seven-fold in the past 20 years, reflecting the evolution of monetary policy operations
Regional Fed presidents stand their ground on MMFs
Presidents of the regional Federal Reserve banks push the Securities and Exchange Commission to impose more stringent reforms on money market funds including requiring a floating net asset value
European Parliament greenlights SSM
Lawmakers vote to put the ECB in charge of supervising Europe's biggest banks, as focus turns to arduous process of establishing single resolution mechanism
OTC derivatives reform could ‘fall short’, says Fed’s Dudley
NY Fed president William Dudley says reforms in OTC derivatives market are lagging work on bank regulation; calls for greater global coordination to push reforms as far as they will go
Finance ministers set to tackle bank resolution at Ecofin conference
Key policy-makers will gather in Lithuania Friday and Saturday to discuss European Commission's controversial proposal on resolution mechanism for failing banks
BIS' Cecchetti evaluates OTC derivatives reform
BIS Monetary and Economic department head Stephen Cecchetti says market responses to OTC derivatives reform will alter degree of netting of counterparty exposures
Carney defends Bank of England’s forward guidance
Bank of England governor defends use of state-contingent forward guidance despite bond market reaction; concern rises about mixed policy message
Digital payments key to financial inclusion, says Gates report
New report into financial inclusion says digital payments are the way forward – but financial service providers will need to charge fees in order to cover the cost of serving the poor
MAS targets household debt with new credit rules
The Monetary Authority of Singapore has unveiled an arsenal of new measures to cap individuals' borrowing in an attempt to rein in rising levels of household debt
Asia-Pacific central banks shed light on future policy
Bank Indonesia hikes rates; Reserve Bank of New Zealand says it will likely tighten policy in 2014; Bank of Korea looks to buck emerging market trend and keep rates low as inflation drops
BoJ paper: ‘Sudden stop' central factor in recent financial crises
Guillermo Calvo argues 'sudden stops' help explain a number of issues which conventional monetary policy fails adequately to address
ECB calls for action as ABS market reaches ‘crossroads’
European Central Bank’s monthly bulletin calls on other institutions to help kick-start the market; suggests ABS transactions could be guaranteed in an attempt to boost SME lending
Bank of Finland publishes research overview
Newsletter highlights research on bank-sovereign feedback loops, information costs and their effect on investment and financial liberalisation in China